Pierre, 30, a political adviser based outside Paris, was looking for a buy-to-let investment in the capital. He had a budget of 830,000 euros and could only view at weekends. The Home Select property hunter found him a 78 m² off-market property on Rue Saint-Nicolas, in the 12th arrondissement, 48 hours after the mandate was signed. Price: under 10,000 euros/m² in a neighbourhood worth 11,000.
Mission overview
- Property hunter: Home Select
- Area: Paris 12th, Bastille, Aligre, Faubourg Saint-Antoine
- Property type: three-room flat, 2 potential bedrooms, 78 m²
- Budget: 830,000 euros all-in
- Off-market property: yes
- Search duration: 48 hours after mandate signature
- Buyer profile: First-time buyer, 30 years old, buy-to-let, based outside Paris
The project: investing in Paris from outside the city
Pierre already owned his main home in the 5th arrondissement, but he worked outside Paris during the week. His aim: build a portfolio by buying a flat to let in the 9th, 10th or 11th.
Six months of searching alone had made one thing clear: the Paris market does not forgive hesitation. Pierre had even lost a flat in the 10th after signing a preliminary contract, having misjudged the co-ownership charges. The experience taught him two things: he needed a professional who could spot the traps, and, above all, one who could view on his behalf during the week.
Meeting Home Select
Pierre filled in the contact form on the website just after midnight. The next day, the Home Select property hunter called him back, explained how Home Select works and sent him a search mandate with a criteria grid to complete.
The brief sharpened through their conversations: a flat of at least 70 m², 2 bedrooms, a generous living room, within a total budget of 830,000 euros covering notary fees, agency fees and property hunter fees. Pierre was open to light renovation. His great asset: a 50% deposit and a rock-solid financing file.
The off-market property: 48 hours after the mandate
The mandate was signed on 3 April. The next morning, Delphine put Pierre’s file to agents in the area. One contact at once flagged an off-market property not yet listed online.
The flat was on Rue Saint-Nicolas, steps from the Place de la Bastille. 78 m² with exposed beams, a cobbled Parisian courtyard, and three neighbourhood moods within reach: the Aligre market, the Faubourg Saint-Antoine and the small shops of Rue Saint-Nicolas.
Delphine emailed the details and photos. Pierre was keen. The snag: he was outside Paris and the flat might go that same day. He caught the first train. By 2pm he was standing in front of it with Delphine.
Love at first sight, then a bidding battle
The flat was at market price, under 10,000 euros/m² in a neighbourhood where the average is around 11,000. It was love at first sight for Pierre. In a nearby café, he drew up an offer at the asking price with Delphine, who emailed it to the agency to timestamp the proposal. The agent confirmed quickly: it was the first offer, and it had priority.
At 6:30pm came a twist: a second offer arrived. The sale was no longer certain. Delphine went through the strengths of Pierre’s file with him: 50% deposit, an offer at the asking price, self-financing from future rents. To press his advantage, Pierre agreed to waive the mortgage condition and to give the letting management to the seller’s agency.
A second offer went out on those terms. Six days of waiting. On 10 April the answer came: the seller accepted Pierre’s offer.
A well-judged investment
The flat was in excellent order. The seller lived in London and had rarely used it. Delphine compared the letting options and recommended a furnished let, more tax-efficient and more flexible should Pierre choose to live there himself one day.
And that is just what began to take shape: taken with the place, Pierre was seriously weighing moving in rather than letting it. The flat had everything he had been looking for without quite knowing it.
What this mission illustrates
The network makes the difference. This flat appeared on no portal. Without Delphine’s professional contacts, Pierre would never have seen it.
Speed is not negotiable. Less than 6 hours passed between discovering the flat and signing the offer. Pierre took the morning train and signed that afternoon. On the Paris market, well-priced properties sell within 24 to 48 hours.
The financing file is a weapon. Against a rival, it was the strength of the financing, the 50% deposit and the waiver of the mortgage condition that swung the seller’s decision.
Looking for a buy-to-let investment in Paris? Entrust your search to our property hunters. 1,200+ buyers supported since 2011.
Frequently asked questions
Can you buy a Paris flat when you live outside the city?
Yes. At Home Select, around 20% of our clients live outside Paris or abroad. The property hunter handles pre-viewings, filters properties and only arranges the buyer's trip for flats that genuinely match the brief. In this mission, the buyer took the morning train and signed his offer that same afternoon.
What is an off-market property in Paris?
An off-market property is a flat offered for sale without a public listing on the portals. In Paris, these account for between 10 and 15% of transactions. They are reached only through the professional network of estate agents and property hunters. The advantage: less competition between buyers and often better terms on price.
Should you waive the mortgage condition to win against another buyer?
It is a powerful negotiation lever, but a risky one. Waiving the mortgage condition means the buyer commits to purchasing even if their loan is refused. This is only advisable if financing is secured: substantial deposit, more than sufficient borrowing capacity. At Home Select, our partner broker validates the strength of the file before any risk is taken.
